A platform that paves the way for the creation of tokenized crypto funds has added deposits and withdrawals in Tether — giving greater flexibility for investors who are looking to emulate the strategies of successful traders.
Tokenbox allows people who are interested in gaining exposure to the crypto market to buy shares in funds that have been curated by crypto professionals. While some of the opportunities focus on major digital assets such as Bitcoin (BTC) and Ether (ETH), others are more heavily weighted in altcoins. Full, transparent information is provided about how each fund is performing, the team notes.
The addition of Tether (USDT) deposits and withdrawals is significant because of how it further increases the cryptocurrencies that can be used to top up an account. Those who are seeking an on-ramp can also use their bank cards to get involved, if they wish.
Tokenbox’s busy 2020
Tokenbox says there are plenty of other developments to report. One of them is that trading volumes of its TBX tokens have now exceeded $500,000 on the decentralized exchange protocol Uniswap, where work is underway to develop a liquidity pool. The goal is to ensure that TBX tokens enjoy long-term success, with the team adding: “The release of the Tokenbox platform with the running Portfolio Service has laid a solid foundation for further product development and organic growth in the usage and utility of TBX tokens.”
Elsewhere, the platform can now be accessed using the InterPlanetary File System, or IPFS — a protocol that’s designed to make the web “faster, safer, and more open.”
It has also been announced that Tokenbox has joined the “Startup with IBM” program — winning a grant of more than $120,000. The tech giant’s initiative means the company can make use of 130 services in the IBM Cloud, ranging from analytics and security to artificial intelligence and blockchain.
How TBX tokens work
The Tokenbox team recently released an in-depth guide that explains how TBX tokens work, and what they are used for. Those who own this crypto asset benefit from discounted trading fees, and they also serve as a digital license for traders who are running a portfolio.
The company explains that “once your portfolio is created, you need to keep an amount of TBX worth 1% of all your assets in your wallet — otherwise the portfolio will not be able to accept new investments and will also be hidden on the marketplace.”
Connecting traders and investors
In the fast-moving — and often complicated — crypto world, investors are often looking for accessible ways to get involved in digital assets. With Bitcoin and Ether recently embarking on a new bullish phase, there’s plenty of renewed interest.
Meanwhile, traders who have a strong track record often struggle to build their profile — and if they want to create a crypto fund that investors can follow, they often have to build their own platform at great expense.
Tokenbox solves the challenges facing investors and traders in one fell swoop. Investors can access a diverse range of crypto funds in one place and acquire shares in a few simple clicks. Better still, traders can set up their own portfolio in a few minutes — with Tokenbox taking care of marketing, legal requirements and the Know Your Customer checks that their clients have to go through.
Alexander Muradov, a professional trader who operates two portfolios on the Tokenbox platform, says tokenized crypto funds can help remove some of the emotion out of trading for rookie investors — allowing them to trust the expertise and rationale of a seasoned expert.
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